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Commodities

Oil Prices Slide Amid Surge in US Crude Stockpiles

Guavy AI Editorial Team
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Global oil prices took a hit on August 13, 2026, as investors reevaluated their expectations for global demand and US crude stockpiles. Brent crude saw a decline of 1.8% to trade at $87.41 per barrel in intraday trading, while West Texas Intermediate (WTI) crude fell by 1.9% to reach $81.65 per barrel.

The sharp increase in US commercial crude oil inventories was a major contributor to the decline in prices. According to data released by the Energy Information Administration, crude stockpiles rose by 17.4 million barrels to 424.4 million barrels in the week ending August 7.

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